April 2011 - Residential Relaunch

7 April 2011

Residential Relaunch - Gold, Silver and Bronze

We are delighted to announce the relaunch of Property Protector Residential and have taken the opportunity to rebrand all our Residential products.

Gold - Our Premier product offering exemplary cover.
Our premier contract has been renamed Gold and continues to be one of the leading products available to the Property Owners market. We have realigned the levels of policy excess in line with similar policies in the market.

We have taken the opportunity to update and expand our product comparison chart to emphasise the wide policy wording that our Gold contract provides, especially some of the key extensions to the Public and Employers Liability, and Business Interruption.

And of course our the Gold policy still automatically includes Legal Expenses, Legal Indemnities and 24 Hours Property Emergency cover.

Silver - Our new 'mid-range' product offering excellent value
Our old "Lite" contract has been re-written and improved and renamed "Silver".
A summary of the improved benefits of the new policy are shown below.

Trace and Access Cover – now increased to £25,000 (from £ 5,000)

Lock Replacement Cover – now increased to £ 5,000 (from £ 500)

Property Owners Liability – now increased to £ 5,000,000 (from £2,000,000)

NEW Contents Liability – now included up to £ 5,000,000
This new extension automatically provides cover for your clients legal obligations arising from the ownership of their contents providing cover beyond Section 3 of The Defective Premises Act.

ENHANCED Malicious Damage and Theft by Tenant – Cover limitation removed
Cover under the section of the policy was previously limited to £ 5,000 per claim. This limit has now been removed.

ENHANCED Standard Policy Excess – now £100 (reduced from £200)
The standard policy excess for Residential risks will reduce from £200 to £100 the revised excess will The standard excess in respect of subsidence, heave and landslip remains unchanged at £1,000 and claims in respect of Escape of Water Claims remains at £ 250.00.

Terrorism Cover - Now available as an option
Cover for Terrorism is now available as an option. Should you wish to include Terrorism cover we can obtain quotations on your behalf.

Bronze - Quality cover at a very competitive price
As an alternative to Silver, our Bronze policy is basically offering similar cover to our old Lite policy.

Written on the basis of our new silver wording, with a few restrictions in cover and a higher excess, we have been able to negotiate some significant rating discounts to enable you to compete in the current competitive property owners marketplace.

We will be offering all three products on our new business quotations, and providing you with these alternatives at renewal too.

To help you with these changes we have produced a comparison table for all three residential products, which you can use to compare and recommend the ideal solution to your client.

Should you have any queries do not hesitate to speak to your usual contact.